Fixed rate mortgage rates reduced by Halifax and Abbey for Intermediaries
Abbey for Intermediaries, Santander’s specialist lending arm for mortgage brokers, is to reduce its two-year fixed rate mortgage products at 60% and 75% loan-to-value by up to 0.2%.
The changes, which AFI will reveal today, take effect from today (23rd May) and include mortgages in the lender’s loyalty range.
The lender is also withdrawing its two-year tracker homebuyer product at 90% LTV and its five-year fixed rate homebuyer product at 90% LTV.
Halifax is also reducing its three-year 90% LTV fixed rate product for homebuyers by 0.2% and is withdrawing its two-year 90% LTV fixed rate for homebuyers temporarily.
David Marina, director of mortgages at Medical & Professional Money Management, says: “A reduction in fixed rates is always welcome news and we hope this can be sustained. It appears lenders are managing their workflow due to the supply of funds available and adjusting mortgage rates on a regular basis to ensure a consistent supply of applications.”
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